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Registered number: 08461936
JGF Electrical And Building Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08461936
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 440,955 221,097
440,955 221,097
CURRENT ASSETS
Stocks 5 65,353 47,500
Debtors 6 614,322 367,100
Cash at bank and in hand 17,733 15,681
697,408 430,281
Creditors: Amounts Falling Due Within One Year 7 (751,759 ) (454,009 )
NET CURRENT ASSETS (LIABILITIES) (54,351 ) (23,728 )
TOTAL ASSETS LESS CURRENT LIABILITIES 386,604 197,369
Creditors: Amounts Falling Due After More Than One Year 8 (331,771 ) (180,060 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (40,871 ) (5,668 )
NET ASSETS 13,962 11,641
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 13,862 11,541
SHAREHOLDERS' FUNDS 13,962 11,641
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M Forsyth
Director
27/11/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JGF Electrical And Building Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08461936 . The registered office is Unit 18 Optima Park,, Thames Road, Crayford, Dartford, Kent, DA1 4QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 20% & 10% on cost
Computer Equipment 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2024: 15)
19 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 8,391 242,944 3,765 12,090 267,190
Additions 7,857 263,105 4,949 5,367 281,278
As at 31 March 2025 16,248 506,049 8,714 17,457 548,468
Depreciation
As at 1 April 2024 2,399 37,105 1,607 4,982 46,093
Provided during the period 2,617 55,172 929 2,702 61,420
As at 31 March 2025 5,016 92,277 2,536 7,684 107,513
Net Book Value
As at 31 March 2025 11,232 413,772 6,178 9,773 440,955
As at 1 April 2024 5,992 205,839 2,158 7,108 221,097
5. Stocks
2025 2024
£ £
Stock 60,353 47,500
Work in progress 5,000 -
65,353 47,500
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Page 5
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 464,330 316,522
Other debtors 149,992 50,578
614,322 367,100
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 81,539 33,136
Trade creditors 136,911 96,896
Bank loans and overdrafts 422,501 243,486
Other creditors 1,950 1,950
Taxation and social security 108,858 78,541
751,759 454,009
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 328,718 165,003
Bank loans 3,053 15,057
331,771 180,060
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 81,539 33,136
Later than one year and not later than five years 328,718 165,003
410,257 198,139
410,257 198,139
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
On the 12th September 2023 99 £1 Ordinary Shares were issued.
Subsequently on the 6th October 2023 the 100 £1 Ordinary Shares were split into 50 £1 Ordinary A Shares and 50 £1 Ordinary B Shares.
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 41,444 -
Later than one year and not later than five years 163,750 -
205,194 -
From October 2024 the company entered into a 10 year operating lease on premises located at Unit 18 Optima Park, Crayford, with a Break Date of 01 October 2029 being the expiry of the fifth year of the Contractual Term
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Michaela Forsyth - 100,344 (60,314 ) - 40,030
Mr Joe Forsyth 43,921 78,383 (82,275 ) - 40,030
The above loan is unsecured, charged interest at 2.25% and repayable on demand.
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